Daniels & Daniels has expected earnings before interest and taxes of $3,800, an unlevered cost of capital of 15.4 percent, and a tax rate of 22 percent. The company also has $2,600 of debt with a coupon rate of 5.7 percent. The debt is selling at par value. What is the value of this firm?

Multiple Choice

$17,700

$19,819

$12,055

$15,585

$12,115